Sectorally, buying was seen in metals, public sector, utilities, IT and power stocks while consumer durables and FMCG space saw selling.
Stocks that were in focus on Monday include names like IRCON International that was up over 7%, RVNL that closed with gains of over 11%, and IRFC that rose nearly 20% to hit a fresh record high.
We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout.
We spoke to analyst Hariprasad Kizhakkethara on how one should look at these stocks the next trading day entirely from an educational point of view:
Here’s what the Sebi registered analyst, RA( INH200009351), and Director of Livelong Wealth had to say:
IRCON International
The stock has continuously faced a strong rejection from the resistance trendline since November 2022.
Now, it has given a breakout and retested with the green bullish candle with good volumes also (crossed 50-MA on volumes chart) and gave an upside rally by over 15%.
The stock is experiencing a good buying volume from that trendline breakout even though it has even crossed 50-DMA in the volumes chart.
Rail Vikas Nigam Ltd (RVNL)
The stock has given a breakout from the resistance zone of Rs 142-145 with a green bullish candle and with good volume also (crossed 50MA on the Volumes chart).
If it sustains above this resistance zone, it will rally upwards to Rs 188 as the Target 1 price level and Rs 212 as the next target.
There might be a possibility that the price may take a retest at the support zone of Rs 142-145 and then give an upside rally for the mentioned targets.
ETMarkets.comIRFC
The stock has continuously faced strong rejection from the Resistance Trendline since November 2022. Now, it has given a breakout with a green bullish candle and with good volume also (crossed 50MA on Volumes chart) giving an upside rally by over 20%.
It will rally upside towards Rs 72 as the Target 1 price level and Rs 79 as the next target.
ETMarkets.com(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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